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LED Lighting Market

Publisher Global Market Insights
Published Nov 05, 2024
Length 285 Pages
SKU # GMI19407268

Description

LED Lighting Market


The Global LED lighting market was valued at USD 85.97 billion in 2023 and will record 10% CAGR during 2024-2032, fueled by a global shift towards energy efficiency and environmental sustainability. In response to this trend, governments worldwide are tightening regulations, moving away from traditional incandescent and fluorescent lighting in favor of energy-efficient LEDs. A notable example is the Street Lighting National Programme (SLNP) in August 2024, which highlighted an annual energy saving of 8,806 million units in India, thanks to the installation of over 13.1 million LED streetlights by Energy Efficiency Services Limited (EESL). Technological advancements have further bolstered the market, enhancing energy efficiency, lifespan, and light quality of LEDs. These improvements have broadened the appeal of LEDs across various applications, from residential and commercial to industrial and outdoor settings. Moreover, as manufacturing processes advance and economies of scale come into play, the cost of LED components has decreased, making LED lighting more accessible and accelerating its market penetration. The overall LED Lighting Market is segmented based on Product Type, Application, Installation, Sales Channel, Wattage, Technology, and Region. The market segments products into lamps and luminaires, with the luminaires segment projected to surpass USD 100 billion by 2032. The rising preference for integrated lighting solutions in residential and commercial spaces underscores the appeal of luminaires, which offer superior design flexibility and aesthetic value over standalone lamps. As technology progresses, these energy-efficient and long-lasting luminaires are becoming the go-to choice for both new installations and retrofits. The trend towards smart lighting systems, often featuring IoT and connectivity in luminaires, further propels this segment. Government incentives and regulations championing energy-efficient lighting bolster the adoption of these advanced luminaires, solidifying their growth trajectory. The market's application segments include indoor and outdoor, with the outdoor segment emerging as the fastest-growing, boasting a CAGR exceeding 10% from 2024 to 2032. Global smart city initiatives are driving a heightened demand for sophisticated outdoor lighting solutions, such as streetlights, emphasizing energy efficiency and public safety. The global push for sustainability and reduced carbon emissions is catalyzing a shift from traditional outdoor lighting to energy-efficient LED solutions, celebrated for their longevity and reduced energy consumption. Moreover, technological strides, especially the melding of IoT and smart controls in outdoor lighting, are enhancing energy management and operational efficiency. Urbanization and infrastructure development in emerging economies further amplify the demand for modern outdoor lighting systems. In 2023, North America led the global LED lighting market, capturing over 30% of the share. This dominance is attributed to robust regulatory backing and government incentives championing energy-efficient lighting. Policies in the region are keenly focused on curbing energy consumption and fostering sustainability. Coupled with an advanced infrastructure and a swift embrace of technology, these factors have paved the way for widespread LED lighting adoption. The region's inclination towards smart lighting systems, spurred by smart city initiatives and IoT integration, acts as a further catalyst for market expansion.

Table of Contents

285 Pages
Chapter 1 Research Methodology and Scope
1.1 Scope and definition
1.1.1 Scope
1.1.2 Definitions
1.2 Research Design
1.2.1 Data collection techniques
1.2.2 Market size estimation
1.2.3 Forecasting model
1.3 Data Sources
1.3.1 Secondary
1.3.1.1 Paid Sources
1.3.1.2 Public Sources
1.3.2.1 Primary
Chapter 2 Executive Summary
2.1 LED lighting market, 2021 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM) Potential
2.3 Region trends
2.4 Type trends
2.5 End use trends
2.6 Installation Trends
2.7 Sales Channel trends
2.8 Application trends
Chapter 3 LED Lighting Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Component suppliers
3.1.2 Manufacturers
3.1.3 Technology or solution providers
3.1.4 Service providers
3.1.5 Distributors
3.1.6 End users
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.4.2 Integration of health monitoring
3.4.3 IoT integration
3.5 Patent analysis
3.6 Key news & initiatives
3.7 Regulatory landscape
3.7.1 North America
3.7.1.1 The Energy Independence and Security Act (EISA) of 2007
3.7.1.2 The Energy Star program
3.7.1.3 California Title 24
3.7.1.4 Canadian Standards Association (CSA)
3.7.1.5 UL 8750
3.7.2 Europe
3.7.2.1 Energy Labelling Directive
3.7.2.2 EU REACH
3.7.2.3 The Restriction of Hazardous Substances Directive 2002/95/EC (ROHS).. 74
3.7.2.4 Ecodesign Directive
3.7.2.5 CE Mark
3.7.3 Asia Pacific
3.7.3.1 Japan Electronics and Information Technology Industries Association (JEITA)
3.7.3.2 Minimum Energy Performance Standards (MEPS)
3.7.3.3 Energy Conservation Building Code (ECBC)
3.7.3.4 JIS Standards
3.7.3.5 KC Certification, South Korea
3.7.3.6 CCC certification
3.7.4 Latin America
3.7.4.1 National Institute of Metrology, Standardization, and Industrial Quality (INMETRO)
3.7.4.2 Colombia's Technical Regulation for Energy Efficiency (RTEEE)
3.7.4.3 Brazil's Procel Program
3.7.5 MEA
3.7.5.1 The Saudi Arabian Standards Organization (SASO)
3.7.5.2 Mercosur Energy Efficiency Framework
3.8 Technology trends
3.8.1 Smart lighting systems
3.8.2 Human-centric lighting (HCL)
3.8.3 Advanced Materials and Designs
3.8.4 Sustainability and Environmental Impact
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.1.1 Proliferation of smart city projects across the globe
3.9.1.2 Rise in Internet of Things (IoT) Integration
3.9.1.3 Shifting consumer focus toward energy-efficient lighting
3.9.1.4 Increasing trend toward smart homes
3.9.1.5 Growing focus on Human-Centric Lighting (HCL)
3.9.2 Industry pitfalls & challenges
3.9.2.1 High initial costs
3.9.2.2 Security and privacy concerns
3.10 Growth potential analysis, 2023
3.11 Porter's analysis
3.12 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of the key market players
4.3.1 Signify Holding
4.3.2 ams - OSRAM
4.3.3 Cree, Inc
4.3.4 General Electric Company (GE Lighting)
4.3.5 Acuity Brands Lighting Inc.
4.3.6 Zumtobel Group
4.3.7 Nichia Corporation
4.3.8 Samsung Electronics Co., Ltd
4.3.9 Panasonic Corporation
4.4 Competitive positioning matrix
4.5 Strategic outlook matrix
Chapter 5 LED Lighting Market, By Type
5.1 LED lighting market share, by type, 2023 & 2032
5.2 Lamps
5.2.1 Market estimates and forecast, 2021 - 2032
5.3 Luminaires
5.3.1 Market estimates and forecast, 2021 - 2023
Chapter 6 LED Lighting Market, By End Use
6.1 LED lighting market share, by end use, 2023 & 2032
6.2 Residential
6.2.1 Market estimates and forecast, 2021 - 2032
6.3 Commercial
6.3.1 Market estimates and forecast, 2021 - 2032
6.4 Industrial
6.4.1 Market estimates and forecast, 2021 - 2032
6.5 Agriculture Lighting
6.5.1 Market estimates and forecast, 2021 - 2032
Chapter 7 LED Lighting Market, By Installation
7.1 LED lighting market share, by installation, 2023 & 2032
7.2 New Installation
7.2.1 Market estimates and forecast, 2021 - 2032
7.3 Retrofit Installation
7.3.1 Market estimates and forecast, 2021 - 2032
Chapter 8 LED Lighting Market, By Sales Channel
8.1 LED lighting market share, by sales channel, 2023 & 2032
8.2 Retail And Wholesale
8.2.1 Market estimates and forecast, 2021 - 2032
8.3 Direct sales
8.3.1 Market estimates and forecast, 2021 - 2032
8.4 E-commerce
8.4.1 Market estimates and forecast, 2021 - 2032
Chapter 9 LED Lighting Market, By Application
9.1 LED lighting market share, by application, 2023 & 2032
9.2 Indoor
9.2.1 Market estimates and forecast, 2021 - 2032
9.3 Outdoor
9.3.1 Market estimates and forecast, 2021 - 2032
Chapter 10 LED Lighting Market, By Region
10.1 Key trends, by region
10.2 North America
10.2.1 Market estimates and forecast, 2021-2032
10.3 Europe
10.3.1 Market estimates and forecast, 2021-2032
10.4 Asia Pacific
10.4.1 Market estimates and forecast, 2021-2032
10.5 Latin America
10.5.1 Market estimates and forecast, 2021-2032
10.6 MEA
10.6.1 Market estimates and forecast, 2021-2032
Chapter 11 Company Profiles
11.1 Acuity Brands Inc.
11.1.1 Business Overview
11.1.2 Financial Data
11.1.3 Product Landscape
11.1.4 Strategic Outlook
11.1.5 SWOT Analysis
11.2 Cree Lighting USA LLC
11.2.1 Business Overview
11.2.2 Financial Data
11.2.3 Product Landscape
11.2.4 Strategic Outlook
11.2.5 SWOT Analysis
11.3 Dialight plc
11.3.1 Business Overview
11.3.2 Financial Data
11.3.3 Product Landscape
11.3.4 Strategic Outlook
11.3.5 SWOT Analysis
11.4 Eaton Corporation
11.4.1 Business Overview
11.4.2 Financial Data
11.4.3 Product Landscape
11.4.4 Strategic Outlook
11.4.5 SWOT Analysis
11.5 Epistar Corporation
11.5.1 Business Overview
11.5.2 Financial Data
11.5.3 Product Landscape
11.5.4 SWOT Analysis
11.6 EVERLIGHT ELECTRONICS CO., LTD.
11.6.1 Business Overview
11.6.2 Financial Data
11.6.3 Product Landscape
11.6.4 Strategic Outlook
11.6.5 SWOT Analysis
11.7 Halonix Technologies Private Limited
11.7.1 Business Overview
11.7.2 Financial Data
11.7.3 Product Landscape
11.7.4 Strategic Outlook
11.7.5 SWOT Analysis
11.8 Hubbell Incorporated
11.8.1 Business Overview
11.8.2 Financial Data
11.8.3 Product Landscape
11.8.4 Strategic Outlook
11.8.5 SWOT Analysis
11.9 LSI Industries Inc.
11.9.1 Business Overview
11.9.2 Financial Data
11.9.3 Product Landscape
11.9.4 Strategic Outlook
11.9.5 SWOT Analysis
11.10 Nanoleaf
11.10.1 Business Overview
11.10.2 Financial Data
11.10.3 Product Landscape
11.10.4 Strategic Outlook
11.10.5 SWOT Analysis
11.11 Nichia Corporation
11.11.1 Business Overview
11.11.2 Financial Data
11.11.3 Product Landscape
11.11.4 Strategic Outlook
11.11.5 SWOT Analysis
11.12 ams OSRAM
11.12.1 Business Overview
11.12.2 Financial Data
11.12.3 Product Landscape
11.12.4 Strategic Outlook
11.12.5 SWOT Analysis
11.13 Panasonic Corporation
11.13.1 Business Overview
11.13.2 Financial Data
11.13.3 Product Landscape
11.13.4 SWOT Analysis
11.14 Samsung Electronics Co., Ltd.
11.14.1 Business Overview
11.14.2 Financial Data
11.14.3 Product Landscape
11.14.4 Strategic Outlook
11.14.5 SWOT Analysis
11.15 SAVANT Systems Inc. (GE Lighting)
11.15.1 Business Overview
11.15.2 Financial Data
11.15.3 Product Landscape
11.15.4 Strategic Outlook
11.15.5 SWOT Analysis
11.16 Seoul Semiconductor Co., Ltd.
11.16.1 Business Overview
11.16.2 Financial Data
11.16.3 Product Landscape
11.16.4 Strategic Outlook
11.16.5 SWOT Analysis
11.17 Signify Holding
11.17.1 Business Overview
11.17.2 Financial Data
11.17.3 Product Landscape
11.17.4 Strategic Outlook
11.17.5 SWOT Analysis
11.18 Siteco GmbH
11.18.1 Business Overview
11.18.2 Financial Data
11.18.3 Product Landscape
11.18.4 SWOT Analysis
11.19 Syska
11.19.1 Business Overview
11.19.2 Financial Data
11.19.3 Product Landscape
11.19.4 Strategic Outlook
11.19.5 SWOT Analysis
11.20 Qingdao Yeelink Information Technology Co., Ltd. (YEELIGHT)
11.20.1 Business Overview
11.20.2 Financial Data
11.20.3 Product Landscape
11.20.4 Strategic Outlook
11.20.5 SWOT Analysis
11.21 Zumtobel Group AG
11.21.1 Business Overview
11.21.2 Financial Data
11.21.3 Product Landscape
11.21.4 Strategic Outlook
11.21.5 SWOT Analysis

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